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News
Our Certified Practising Accountants report on the latest accounting news, and address your most common questions relating to accounting, bookkeeping, company tax, individual tax returns, self managed super funds and more.
Medical
Insights and practical tips tailored for doctors, specialists and healthcare providers covering tax, business and financial strategies to support your medical practice.
How do I know if my medical practice is properly staffed?
Many medical practices feel constantly busy, yet their profits do not always reflect the workload. Others worry that they are overstaffed and carrying unnecessary wage costs. Getting staffing levels right is essential in the medical profession as it helps protect cash flow , improve patient experience, and support sustainable growth. Common issues we see include: Practices hiring reactively due to workload pressure Overstaffing admin roles without reviewing efficiency U
Jan 302 min read
Should you use cash or a loan to fund medical equipment for your medical practice?
Buying new medical equipment is often a necessary step as your practice grows. Whether it is diagnostic tools, treatment equipment or technology upgrades. These purchases can significantly impact your cash flow and tax position. One of the most common questions we hear is whether it is better to pay in cash or use finance. The answer depends on your numbers, your growth plans and your risk tolerance. Common issues we see include: • Practices draining cash reserves to avoid
Jan 293 min read
What financial checks do I need to do before hiring another doctor or staff member?
Many medical practices hire because the clinic feels busy or patients are waiting longer for appointments. While the intention is good, hiring without proper financial planning can lead to higher stress, tighter cash flow and unexpected compliance issues. Doing the right financial checks helps you: Hire with confidence rather than urgency Protect cash flow and profitability Plan sustainable growth instead of short term fixes Avoid payroll and tax surprises A common misc
Jan 282 min read
The Financial Reports Every Medical Practice Owner Should Review Monthly
Many medical practice owners only review their finances at tax time. By then, it’s often too late to fix cash flow issues and rising business costs. Regularly reviewing your financial reports helps you: Identify problems early before they become costly Understand where your money is really going Plan for growth, staffing and equipment purchases Stay compliant and avoid unexpected tax or cash flow shocks A common misconception is that as long as the bank balance looks g
Jan 212 min read
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